BUZZ-SpaceX stock price under pressure as market watches for the latest lock-up expiration

October 22 - ** SpaceX (SPCX.O) shares fell 6.3% to $149.77

** According to the prospectus, shares of this rocket manufacturer only started trading on Thursday — the second full trading day (link) after the third-quarter earnings report (link) release

** Staggered unlocking arrangements (link) will gradually release SPCX shares through mid-2027, with less than 5% of shares available for trading after the IPO

** After the lock-up period expires, insiders and pre-IPO investors will be able to sell shares, which typically puts pressure on the share price

** Of 43 brokerages, 33 rate SPCX at “buy” or higher, 8 rate “hold”, and 2 rate “sell” or below; the median target price is $228.50 — data compiled by LSEG

** SPCX, backed by Elon Musk, rose 7.8% on Wednesday; since its June IPO, it has risen 18% from its offering price

https://www.reuters.com/graphics/USA-STOCKS/SPACEX/dwpknzonkvm/chart.png

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